---
schema_version: "secwatch.filing_event.v1"
accession: "0001705696-23-000071"
form_type: "8-K"
ticker: "VICI"
cik: "0001705696"
company_name: "VICI PROPERTIES INC."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:09:09.922258+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# VICI Q1 revenue $877.6M (+110.7% YoY), AFFO $0.53, closes $1.3B MGM Grand JV buyout

## Summary
- Net income $518.7M ($0.52 EPS), up 115.8% YoY; AFFO $528.6M ($0.53) up 73%.
- Acquired four Canadian casinos from PURE for C$271.9M; master lease at 8.0% cap rate.
- Bought remaining 49.9% of MGM Grand/Mandalay Bay JV for $1.3B cash plus debt assumption.
- Entered triple-net lease with Cherokee Nation for Gold Strike Casino at $40M annual rent.
- Reaffirmed full-year 2023 AFFO guidance; dividend $0.39/share.

## SEC filing metadata
- accession: 0001705696-23-000071
- form_type: 8-K
- ticker: VICI
- cik: 0001705696
- company_name: VICI PROPERTIES INC.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1705696/000170569623000071/0001705696-23-000071-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1705696/000170569623000071/vici-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001705696-23-000071
- JSON: https://secwatch.observer/filing/0001705696-23-000071.json
- Plain text: https://secwatch.observer/filing/0001705696-23-000071.txt

## Key facts
- Earnings Releases
  VICI PROPERTIES INC. reported the quarter ended March 31, 2023 results: revenue $877.6 million, net income $518.7 million, EPS $0.52. Guidance reaffirmed.
  - Period: the quarter ended March 31, 2023
  - Revenue: $877.6 million
  - Net income: $518.7 million
  - EPS: $0.52
  - Guidance: reaffirmed
  - Result: reported results
  source text: First Quarter 2023 Financial and Operating Highlights • Total revenues increased 110.7% year-over-year to $877.6 million • Net income attributable to common stockholders increased 115.8% year-over-year to $518.7 million and, on a per share basis, increased 47.9% year-over-year to $0.52
  evidence_url: https://www.sec.gov/Archives/edgar/data/1705696/000170569623000071/0001705696-23-000071-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.